Struggling fashion retailer, Superdry, is reportedly negotiating an additional multimillion-pound loan with one of its existing lenders.

Sky News has learnt Superdry is discussing a new facility with Hilco to borrow £10m or more as it seeks new financial headroom amid a steep downturn in trading.

The talks between the clothing retailer and Hilco are on top of more than £100m of existing debt, the majority of which was extended by Bantry Bay.

City sources said the discussions were not certain to result in an agreement but were at a detailed stage.

Superdry and Hilco both declined to comment.

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